Stuck Between Moving and Staying? These 3 Questions Can Help You Decide

If you’re a homeowner in the Highlands and Cashiers, NC area with a low mortgage rate, you might be feeling a bit stuck these days. Perhaps you've considered making a move—whether that means finding a larger space, relocating to a different area, or finally discovering a home that truly fits your needs. But then reality sets in when you think about today’s interest rates, and suddenly, the idea gets shelved.

This scenario is playing out for many homeowners across the country. Millions secured historically low rates back in 2020 or 2021. Now, with interest rates on the rise, those same homeowners are hesitant to let go of what feels like a fantastic deal—even if their current home no longer meets their lifestyle needs.

This phenomenon is known as the “lock-in effect,” and it can be quite compelling. However, it doesn’t mean you’re out of options. If you’ve been hesitating, unsure whether to stay or go, consider these three questions to help clarify your situation and make a decision you feel good about.

Is your current home still working for your life—or just your loan?

This is perhaps the most crucial question to ask. When you look beyond the interest rate and the numbers, does your home still support your day-to-day life?

Maybe what once felt spacious now feels cramped. Or perhaps your home seems too large and quiet since the kids left for college. Your needs might have shifted—maybe you’re working from home more often, caring for aging parents, or have welcomed a new family member. Or maybe you’ve simply outgrown the space emotionally. What was once your dream home now feels like a never-ending to-do list.

It’s easy to push those feelings aside and focus solely on your current mortgage rate. But when your home no longer aligns with your lifestyle, it’s worth considering what it’s costing you to stay—not just financially, but emotionally, mentally, and physically. The right home doesn’t have to be perfect, but it should enhance your daily life rather than complicate it.

What would a move really cost you—and what might it make possible?

There’s no denying that interest rates today are higher than they were a few years back. However, that doesn’t automatically mean moving isn’t a viable option. What truly matters is how the entire picture looks for you.

Many homeowners today are sitting on significant levels of equity. As of early 2024, the average mortgage-holding homeowner in the U.S. holds approximately $299,000 in equity, according to ICE’s Mortgage Monitor report. That’s an increase from $274,000 at the end of 2022 and a substantial jump from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This equity could serve as your down payment on a new home, reduce the amount you need to borrow, lower your monthly payment, or even help you avoid private mortgage insurance.

Now, consider the lifestyle benefits a move could bring. Perhaps it would bring you closer to family, provide your kids with access to better schools, or offer that coveted home office or outdoor space you’ve been dreaming about. Maybe it means downsizing and freeing up more cash each month or finally settling in a neighborhood where you feel more at home.

Moving isn’t just a financial decision; it’s also about enhancing your quality of life. When you weigh both the potential gains and costs, you might find that the numbers aren’t as one-sided as they initially seem.

If you stay, are you staying intentionally—or just avoiding a hard choice?

Choosing to stay where you are can be perfectly valid. In fact, for some, that’s the best option. However, it’s essential that this choice is made deliberately, not out of default.

Ask yourself: If I decide to stay for the next three to five years, what changes or investments would I need to make to ensure this home truly works for me? Would I renovate the kitchen that’s no longer functional? Convert the spare room into a proper office? Redesign the backyard to make it more usable?

Staying doesn’t have to mean settling. Sometimes, making peace with your current home involves creating a plan to improve it—whether through small updates, strategic renovations, or simply rethinking how you use your space.

However, staying without a plan can lead to years of quiet frustration. Often, those small compromises can add up to a costlier situation than moving would have been.

Final Thoughts

Feeling “stuck” can be frustrating, but the good news is, you’re not as trapped as you might think. You’re simply facing a decision that deserves thoughtful consideration.

You don’t need to have all the answers right away. But by asking the right questions—about your lifestyle, your goals, and your finances—you can gain clarity. Whether you choose to stay or go, the aim isn’t to time the market perfectly. It’s about making a move that supports your life and future.

If you’re uncertain about what to do next, let’s discuss your options. We can help you weigh the pros and cons, examine real numbers, and explore what’s possible. This isn’t about pressuring you into a sale; it’s about giving you the clarity and confidence you need to move forward in the direction that feels right for you.